Page:United States Statutes at Large Volume 101 Part 2.djvu/329

 PUBLIC LAW 100-198—DEC. 21, 1987

101 STAT. 1315

Public Law 100-198 100th Congress An Act To amend title 38, United States Code, to modify the amount of the Veterans' Administration home loan guaranty and to make other improvements in the loan guaranty program, and for other purposes.

Dec. 21, 1987 [H.R. 2672]

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, Veterans' Home

Loan Program SECTION 1. SHORT TITLE; REFERENCE. Improvements (a) SHORT TITLE.—This Act may be cited as the "Veterans' Home and Property Rehabilitation Loan ProgTEim Improvements and Property Rehabilitation Act of Act of 1987. Housing. 1987". (b) REFERENCE.—Whenever in this Act an amendment, repeal, or 38 USC 101 note.

redesignation is expressed in terms of an amendment to, or repeal or redesignation of, a section or other provision, the reference shall be considered to be made to a section or other provision of title 38, United States Code, unless otherwise specified. SEC. 2. LOAN FEE.

(a) EXTENSION.—Section 1829(c) is amended by striking out "1987" and inserting in lieu thereof "1989". (b) WAIVER.—Section 1829(b) is amended by striking out "described in section 1801(b)(2) of this title" and inserting in lieu thereof "of any veteran (including a person who died in the active military, naval, or air service) who died from a service-connected disability". SEC. 3. GUARANTY AMOUNT.

(a) PURCHASE OR CONSTRUCTION OF HOMES.—(1) Section 1803(a)(l) is amended to read as follows: "(a)(1) Any loan to a veteran eligible for benefits under this chapter, if made for any of the purposes specified in section 1810 of this title and in compliance with the provisions of this chapter, is automatically guaranteed by the United States in an amount not to exceed— "(A) in the case of any loan of not more than $45,000, 50 percent of the loan; or "(B) in the case of any loan of more than $45,000, 40 percent of the loan or $36,000, whichever is less, except that the cimount of such guaranty for any such loan shall not be less them $22,500; reduced by the amount of entitlement previously used by the veteran under this chapter and not restored as a result of the exclusion in section 18020)) of this title.". (2) Section 1810(c) is repealed. (b) MANUFACTURED HOMES.—Section 1819(c) is amended— (1) in paragraph (3), by striking out the first sentence and inserting in lieu thereof the following: "The Administrator's guaranty may not exceed 40 percent of the loan, or $20,000, whichever is less, reduced by the amount of entitlement pre-

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